Consumer Appliance Market Expected to Increase at a CAGR 4.0% through 2019-2029 | FMI Reports

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Consumer Appliance Market Projected to Grow at
CAGR 4.0 through 2029 Future Market Insights

• March 2020

Report Id REP-GB-10083 Published On
25-July-2019 Category Industrial Automation and
Equipment
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Research Methodology (1/2)

• Systematic Research Approach

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Consumer Appliances Market Analysis
Future Market Insights (FMI), in its new study,
analyzes the consumer appliances market and
offers actionable insights on its growth
prospects for the period 2019 and 2029. According
to the study, worldwide sales of consumer
appliances reached 1.27 billion units in 2018,
and are estimated to register a Y-o-Y growth of
3.7 in 2019. The study opines that the impact of
smart technologies is being witnessed in the
market, with many players launching connected and
smart devices to meet consumer expectations. Rapi
d digitalization and strong knowledge regarding
use and efficiency of modern appliances have been
largely contributing to the market growth. Steady
economic growth in several countries and rising
need for comfort are influencing consumers to
upgrade their existing appliances to smarter
variants. In addition to providing convenience,
reducing manual efforts, and saving time,
manufacturers are focusing heavily on product
innovations to satisfy the evolving needs of
their customers.
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Consumer Appliances Market Analysis
Technology is surely bringing a paradigm shift in
consumer appliances industry, and FMIs study
analyzes that stakeholders are helping consumers
achieve their energy conservation goals through
green technologies and sustainable-centric
innovations. Impressive developments in smart
connectivity area are also set to gain momentum
in the coming years, representing a substantial
competitive advantage for the market
players. White Goods Capture Robust Share over
Brown Goods According to the study, white goods
such as refrigerators, washing machines, and air
conditioners have garnered relatively high
traction as compared to brown goods. In recent
times, these products have become standard in
almost every household, backed by availability at
affordable prices. Additionally, provision of
smart connection in white goods, along with fast
urbanization and rural electrification,
especially in developing economies, remained
instrumental in accelerating the overall sales of
consumer appliances. Far from being confined to
bigger appliances, manufacturers are also working
on incorporating robotic technologies in small
appliances to provide user-friendly interface and
enable ease of operations.
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Consumer Appliances Market Analysis
As smart homes become a reality all over the
world, the FMI study opines that demand for
consumer appliances from households or domestic
segment will continue to grow at a significant
pace. Introduction of technologically advanced
models which can be connected to smartphones and
controlled remotely along with rise in per capita
income is likely to remain a key to gaining
distinct competitive edge. Opportunities galore
for consumer appliances market stakeholders, as
identified by FMI study with growing working
population and rapid infrastructural development,
resulting into increasing number of hotels, salon
grooming parlors, and quick service restaurants
(QSRs). According to the study, growth prospects
of the consumer appliances market are high in
Europe, owing to strong presence of reputed
brands which continuously focus on fulfilling
consumers need for appliances that can perform
maximum tasks with minimal resources. Newer
opportunities are expected in Asia Pacific
stemming from a number of trends such as
increased purchasing power, growing middle class
population, advances in digital transformation,
and favorable government policies that encourage
the use of energy-saving appliances.
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Consumer Appliances Market Analysis
As the importance of internet increases and
e-commerce sites see an upsurge, stakeholders are
implementing omni-channel marketing strategy to
reach wide range of customers across the globe.
According to the study, sales of consumer
appliances through online sales are likely to
register a CAGR of 4 during the forecast
period. FMIs business intelligence offers an
incisive outlook on competitive scenario of
consumer appliances market by discussing key
strategies adopted by the players. The market
shows a high level of fragmentation, with a large
number of regional and local players restricting
the geographical expansion of international
companies. Prominent players are thus focusing on
strategic collaborations and joint ventures for
increased production capacities and enhanced
customer base. Source Linkhttps//www.globenewsw
ire.com/news-release/2019/08/22/1905615/0/en/Onlin
e-Sales-of-Consumer-Appliances-to-Witness-4-CAGR-t
hrough-2029-Future-Market-Insights.html
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Consumer Appliances Market Analysis

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• About Us
• Future Market Insights (FMI) is a leading market
  intelligence and consulting firm. We deliver
  syndicated research reports, custom research
  reports and consulting services which are
  personalized in nature. FMI delivers a complete
  packaged solution, which combines current market
  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.

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Consumer Appliances Market Analysis
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Market,you can request a report sample with full
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